The Nifty50 is likely to open with a gap on the higher side on Thursday tracking SGX Nifty which was signaling an up move of over 70 points in morning trade. The index closed 21 points lower at 10,476.

Company seems well equipped to meet opportunities in terms of higher demand (Unutilized capacity), speciality application (R&D, Patents). However, IPO offer seems priced to perfection compared to fundamentals as well as relative to speciality chemicals peers.

Galaxy Surfactants aims to raise Rs 930.75-937.08 crore at a price band of Rs 1,470-1,480 per share. Out of which, it already garnered Rs 281.13 crore from 33 anchor investors at Rs 1480 per share on January 25.

The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in November last year and obtained 'observations' from the regulator on January 12, 2018, the latest update with markets watchdog showed.

Galaxy Surfuctants has been withdrawn its Initial public offering (IPO) due to poor response to the issue. Issue closed one day before its official closing date May 19, 2011, where issue subscribes 30%.

Galaxy Surfactants is bringing the issue at price band of Rs 325-340 per share at p/e multiple of 13-14 at post issue annualized eps of Rs 24.12. Looking at the strong future prospects of the company, Hem Securities has recommended investors to Subscribe the issue for investment purpose.

Galaxy Surfactants is promoted by technocrats experienced in the line of business. Good financial report card, reasonable valuation and strong reliance on R&D promise long term value. However, its Egyptian manufacturing foray is a bit of a concern.

U Shekhar, Managing Director of Galaxy Surfactants, in an interview with CNBC-TV18's Sonia Shenoy and Anuj Singhal, shared his view on the IPO proceeding and spoke about the companies performance going forward.

Specialty chemicals maker Galaxy Surfactants has set a price band of Rs 325-340 a share to raise up to Rs 202 crore via initial public offering (IPO), according to an advertisemnt in the Business Standard newspaper on Monday.